Why we invested in Nifty’s, the world’s first social NFT platform

Enabling brands, artists, and creators to engage with their most passionate fans through non-fungible tokens (NFTs) promises to bring digital collectibles to a wider audience.  

Leading the way is Nifty’s, the first vertically integrated social NFT platform offering a premium user interface and the ability for consumers to create, collect, discover, and curate digital collectibles scattered across the NFT universe.

Nifty's is working with traditional media companies, premium publishers, brands, and creators to create a social platform where collectors, curators, and communities of fans will engage with each other. The company’s vision is to enable anyone interested in digital collectibles to be a part of a blockchain-enabled community. The Nifty’s platform provides a seamless experience that is intuitive to use and easy to navigate.

We think Nifty’s differentiation in the NFT ecosystem is the social engagement functionality that is native to the media itself. Social engagement features on the platform go beyond the ability to like and follow. Moreover, for the first time, the media component of a social media platform will be unique, ownable, trackable, and responsive to both online and offline engagement.  

Nifty’s has, for example, announced a partnership with Warner Brothers Entertainment Inc. to introduce a collection of limited-edition NFTs featuring characters from Space Jam. Fans will have the opportunity to earn these limited-edition NFTs by engaging with the Space Jam gallery and by sharing social media posts about the collection.

We are excited to help fund Nifty’s $10 million seed round to supercharge the launch of the platform. Other investors include Palm NFT Studio, HENI, Coinbase Ventures, Topps, Forerunner Ventures, Dapper Labs, A&T Capital, and BBTV.

In addition to its first-to-market platform, Nifty’s includes an experienced team led by Jeff Marsilio, co-founder and CEO. Marsilio previously led the NBA’s digital licensing business and was instrumental in developing numerous fan engagement experiences, including the league's social media partnerships and virtual reality game broadcasts. He also helped develop NBA Top Shot in partnership with Dapper Labs, a virtual platform that enables collectors to buy and trade digital assets composed of highlight plays from the world's premier basketball league.

The curated galleries on Niftys.com are now open and free to visit. As the NFT market for digital collectibles matures, Nifty’s is well-positioned for explosive growth.

Caroline Rehfuss is an Investor with Samsung Next.

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